Latest news with #R619m
TimesLIVE
02-07-2025
- Health
- TimesLIVE
USAID cancelled rape survivor kits for Congo as conflict erupted
The post-rape kits come in a box containing HIV medication to prevent infection within 72 hours, antibiotics and testing for sexually transmitted diseases and emergency contraception. The supplies paid for by USAID were meant to reach over 2,000 facilities. 'This kit is truly important to reassure the woman who has been really traumatized that she won't get AIDS, that she won't have an unwanted pregnancy, and that she won't contract venereal diseases,' said Amadou Bocoum, the country director of CARE International. The UNFPA shared a document with Reuters that indicated that only seven out of 34 health zones in North Kivu have a minimal supply of post-rape kits left. Less than one-in-four survivors' needs are currently being met. Only 13% of survivors that request help receive medication to prevent HIV within the recommended 72-hour window. While the US State Department has said it will continue to support life-saving programs worldwide, the contract to supply post-rape kits to survivors remains cancelled. Trump has said that the US pays disproportionately for foreign aid and he wants other countries to shoulder more of the burden. The US disbursed $65bn (R1.1 trillion) in foreign assistance last year, nearly half of it via USAID, according to government data. The UNFPA and other aid organisations are trying to raise around $35m(R619m) to cover the loss of funding from the United States from donors such as the Gates Foundation and other Western nations. The consequences of the cancellation include survivor deaths, the spread of HIV, unwanted pregnancies, and unsafe abortions with high maternal-mortality risk, the UNFPA document said.
TimesLIVE
01-07-2025
- Business
- TimesLIVE
Nato fund backs biotech start-up in push to counter biological threats
The Nato Innovation Fund has made its first investment in a biotechnology company, it said on Monday, seeking to enhance defences against biological threats The fund is co-leading a $35m (R619m) fundraising round for Portal Biotech, which uses protein sequencing to detect engineered threats and defend against biological warfare. UK-based Portal Biotech's capability is essential for biosecurity defence and security, said Ana Bernardo-Gancedo, senior associate at the fund. 'We believe it is absolutely imperative that we are able to detect, monitor and create countermeasures,' she said. The fund, created in 2022 after the Russian invasion of Ukraine, plans to invest more than $1bn (R17.7bn) in technologies that would enhance Nato's defences. Portal Biotech uses an AI-backed technology with biological sensors that can work at the single molecule level on-site, providing results within hours. 'It's for everything from measuring diseases to better pandemic prevention. You can take this out of large labs with long turnaround times and into the field,' CEO Andy Heron told Reuters. Heron said the company's instruments can detect any pathogen and can be used for continuous monitoring of anything from a field to water supply. 'It allows you not only to detect what you did know was out there, but it allows you to detect what you didn't know,' he said. Beyond biosecurity, Portal Biotech expects its portable equipment to aid in drug discovery and precision medicine. The company's investors include Earlybird Venture Capital, Science Creates VC, Pillar VC, 8VC, We VC and British Business Bank.
The Citizen
06-06-2025
- Business
- The Citizen
Ayo fined over breach of listing rules
JSE has fined the company R500 000. JSE-listed Ayo Technology Solutions has been fined R500 000 for not releasing a Sens announcement with full details of a share buyback after agreeing to a settlement agreement with the parties on 23 March 2023. On Thursday, the JSE said in a Sens update that the fine is wholly suspended for five years, provided the technology company is not found to be in breach of similar provisions of the listings requirements during the suspension period. Read: Ayo suspended from JSE This comes after Ayo announced that its parent company, Sekunjalo Investment Holdings, led by controversial businessman Iqbal Survé, planned to buy out minority shareholders before the company delisted. In the Sens, Ayo said Sekunjalo will acquire the offer shares, a maximum of 155 331 790 shares, for which valid acceptances are received prior to the closing date of the offer, for a total offer consideration of R80 772 531. Read: Iqbal Survé's R50bn grand plan for Ayo [Apr 2019] In February 2025, the JSE suspended trading in Ayo shares for failing to publish its annual report for the year to August 2024. 'I believe we have done everything within our power to ensure compliance with the listings requirements, however, the release of our results is contingent on the external quality reviewer, the independence and process of which we respect,' said Ayo CEO Amit Makan in a statement. Read: Ayo shareholders agree to repay R619m to PIC [Jun 2024] For this new offence, the JSE says the company was found to be in breach of paragraph 11.25 of the listings requirements, and the purpose of these requirements is to ensure that a repurchase of shares by a company from specifically named parties is conducted transparently and fairly. The stock exchange says this rule highlights the need to keep investors informed by sharing important updates on Sens, especially when it could impact investment decisions or share value. Read: Ayo shareholders agree to repay R619m to PIC 'The JSE finds it unacceptable that Ayo failed to immediately inform shareholders that it had agreed to repurchase its shares from the parties as part of the settlement agreement.' The company's shares have dropped to 40c, down 99% from the peak of R45 in 2017. This article was republished from Moneyweb. Read the original here.
